Gallacher Capital Management LLC Lowers Holdings in The Hershey Company (NYSE:HSY)

Gallacher Capital Management LLC decreased its holdings in The Hershey Company (NYSE:HSY) by 57.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,193 shares of the company’s stock after selling 1,610 shares during the period. Gallacher Capital Management LLC’s holdings in Hershey were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mawer Investment Management Ltd. increased its holdings in shares of Hershey by 48.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 390,399 shares of the company’s stock worth $75,933,000 after purchasing an additional 128,241 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Hershey in the 1st quarter worth $296,000. Mitchell Capital Management Co. bought a new stake in shares of Hershey in the 1st quarter worth $3,154,000. SPC Financial Inc. increased its holdings in shares of Hershey by 2.0% in the 1st quarter. SPC Financial Inc. now owns 3,780 shares of the company’s stock worth $735,000 after purchasing an additional 75 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Hershey by 262.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,555 shares of the company’s stock worth $3,414,000 after purchasing an additional 12,706 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Up 1.2 %

Shares of HSY traded up $2.22 during mid-day trading on Friday, reaching $189.01. 446,742 shares of the company’s stock traded hands, compared to its average volume of 1,856,586. The stock has a market cap of $38.22 billion, a P/E ratio of 18.51, a P/E/G ratio of 4.16 and a beta of 0.36. The stock’s 50-day moving average is $193.19 and its two-hundred day moving average is $192.21. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $248.93. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last released its earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.96 earnings per share. Research analysts forecast that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were paid a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.90%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler reissued a “neutral” rating and issued a $179.00 target price on shares of Hershey in a report on Friday, June 21st. Bank of America cut their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Citigroup lowered their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 target price on shares of Hershey in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $209.67.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the transaction, the chief financial officer now owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,500 shares of company stock valued at $859,950 over the last quarter. 0.34% of the stock is owned by corporate insiders.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.